Global Lighting Control System Market Value Estimated to Grow at a CAGR 10% During 2021-2027

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The lighting control system market is estimated to grow at a CAGR 10% during the forecast period.

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Factor driving the growth of this market is the growing requirement for energy-efficient connected lighting controls due to the increased awareness to reduce energy consumption. The growing demand for intelligent street lighting systems, upcoming smart city projects in developing economies, rising adoption and decreasing cost of LEDs, and increasing awareness of worldwide consumers and governments about the importance of saving energy, along with the modernization and infrastructure development, are the major factors contributing to the growing demand for lighting control systems

Hardware segment is expected to lead the lighting control system market. Hardware components in lighting products are LED drivers and ballasts, sensors, switches, dimmers, relay units, and gateways. LED drivers and ballast components held a major share of the market for hardware components. Increasing demand for energy-saving lighting systems is a key driving factor for the lighting control system market for hardware.

New installations is expected to hold larger share of the market. The increase in global efforts in infrastructure improvement-related works, mostly in buildings used for residential and commercial purposes, is a driving factor for the dominance of the lighting control system market for new installations.

Lighting control system market for wireless communication protocols is expected to grow at higher CAGR during the forecast period. The development of wireless technologies for lighting control systems is expected to propel the market for wireless communication technologies during the forecast period.

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